Liz Truss stamp duty announcement

[Puncturedbicycle85]

I have seen that LT intends to cut stamp duty and will announce it this week. Does anyone know how quickly this will be brought in? I can’t remember how fast it was brought in when it was cut during the pandemic.

Honestly. What a load of crap. Your BS isn't going to help anyone

@girlmom21

Because people who couldn’t afford to pay the £18k you did can now move/buy, thus creating more demand in the housing market and an extra £18k to spend on the price of a house.

Oh that makes sense - thank you!

Is this permanent?

So Labour would have to reverse the cutting of stamp duty. I suppose it depends where the line falls in terms of political outcome, whether people will want the reverse or not.

It’s hard to take a cut away - eg removing help people have grown used to

On whether helping businesses is conservative or not is interesting - spending isn’t really but wanting a more stable employment rate seems to have become so (no idea when it crosses into being one or not)

Trickle down economics was never a proven theory and is discredited, the result isn't "everyone benefits" the low paid save a few £ per month, the rich save £'000's
Meanwhile the average worker has worse public services.

As for True Conservative? Thatcher got the economy back on track BEFORE cutting taxes.

Sitting on the sidelines going, "That's shit, that's shit too, still shit" is not what they are paid to do. They are there to represent their constituents, who put their faith in their MP, to make their lives better, not to put their hand over their answers so no one steals their ideas.

kier will NEVER 'save us'.

True Conservative, in the sense she was a Liberal previously.

That aside, I don’t think for a second the Tories think they’re out at the next election and Truss will hang on for dear life. Some of these policies are specifically designed for the squeezed middle. Here’s a little off stamp duty, more grammar schools, tax cuts etc. They’ve lost the ‘Brexit’ voters so will go after those who ‘work and are aspirational’.

Exactly!!

if he's the best they've got..

Because things have worked so well under the conservative government of the past 12 years, haven't they.

A permanent cut would mean a lot to us. We'd given up on the idea of moving flats in London because of the cost.

Older people don't move from bigger houses because of SD but because they don't want too, they ve lived in these places for a very long time and are established in their community.

Traditionally this may be the case, when gas was 2.2p/kWh. Perhaps less so at the current 10p/kWh and less so again come 2024.

Well they have enough equity so maybe they should just pay it. Single elderly person in a 3-4 bed house with no mortgage who’s making a decision to move or not based on SD is a statistical outlier.

They have come out with plenty of good ideas, even abolishing the A level predicted grades for Uni places was originally a Labour policy, which Truss has pinched.

But the clue is in the name "opposition" i.e oppose, Starmer is not called the Leader of the Governments official Think Tank.

Neither Thatcher or Blair came out with a string of helpful ideas for the Govt

You can't pay bills with equity.

Although you can stay in your area and downsize - even after living there for their dc’s childhood and beyond. Still very much in the community just not in the same large home

Have you not heard of equity release.

@YennefersDress Part of the reason for this mess are in is Brexit and don't forget the conservative PM at the time was a remainer and pleaded with the voters to vote remain. You can't blame Covid, the energy crisis or inflation they are all outside the control of the political parties being global issues.

It helps people because it gets the economy moving.

policies need to be about moving the economy & growth, not just hand outs.

too many people just don't understand how the economy works, they just want hand outs, without understanding the Government isn't a separate entity outside of the economy with a hefty bank account.

you can be as 'over them' as you like, but there's not exactly a credible opposition party is there?

That doesn't free up family homes.

Of course - it's when you release equity and it becomes...not equity. And it's a fucking awful, inefficient way to spunk your kid's inheritance up that wall. I think most would, if able enough, move. But, we'll see.

Stamp duty is a bad tax that inhibits ease of movement so I’d be happy to see it abolished entirely and replaced with an annual levy.

I don’t think COVID was handled well at all. There were people on MN baying for BoJo to
lockdown - repeatedly. That should never have happened after the first one and Rishi plus others have come forward saying so. Whilst energy prices and inflation are global issues, had we not shat the money bed on COVID furlough we’d be in a much better position. We’d also be in a much better position had this government and others properly invested in renewables. And education and the NHS wasn’t in a good place pre-COVID.

So I think the Tories do have a lot of questions to answer.

Do you know many people who have downsized? i don't, my mum didn't, my in laws haven't (even though now living downstairs) and neither have i or my siblings, not saying it doesn't happen of course but smaller 2 bed bungalows in areas of 4/5 bed houses are not that common.
Houses have memories too, that pull is strong in older people who do not want the upheaval.

As said up thread, if your selling for 650k and buying smaller for 400k why would 20k be a barrier? also, there is always EQ release.